Landmark announcement makes this city a target for canny investors

Landmark announcement makes this city a target for canny investors


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Plymouth has been named one of five key national defence growth areas in the UK Defence Industrial Strategy announced by the government.

A team of city organisations that form Team Plymouth, formerly Growth Alliance Plymouth, have welcomed the landmark designation that – in their words – “marks a transformative moment for our city and region, unlocking unprecedented opportunities for economic development, innovation and community prosperity.”

Backed by a £250m UK-wide investment, this designation is described as opening up access to new opportunities that can shift the dial on Plymouth’s economic trajectory and unlock long-term prosperity for local communities and future generations.

The announcement builds on a series of recent major developments, including Plymouth’s designation as the National Centre for Marine Autonomy, a £350m investment by defence tech firm Helsing, Babcock’s expansion into Plymouth new town Sherford, with a new Integrated Logistics Hub and Advanced Manufacturing Base and the confirmation of Plymouth and South Devon Freeport as a Defence Strategic Investment Zone.

The Ministry of Defence’s £4.4 billion investment into HM Naval Base Devonport and Babcock’s Devonport Royal Dockyard is supporting the next phase of the Royal Navy’s submarine programme and the Continuous at Sea Deterrent (CASD), with operations extending through to at least 2070.

The Defence Growth Deal investment in Plymouth will support a wide range of initiatives designed to build long-term capability and prosperity, including:

  • Strengthening local skills initiatives, with a focus on STEM outreach and training in fields such as electrical engineering, renewable energy systems, nuclear operations, and autonomy;
  • Driving innovation through the Advanced Marine Technology Hub at the University of Plymouth, supporting dual-use capability development, marine science and critical national infrastructure;
  • Investing in local infrastructure to support the wider defence ecosystem.

In line with the national strategy and the emergence of regional defence growth identities such as Team Barrow, Growth Alliance Plymouth is rebranding to Team Plymouth. This new identity reflects a strengthened partnership with government, industry and local stakeholders and signals a collective ambition to seize this moment and transform the city’s future.

Council Leader Tudor Evans says: “This is a huge announcement for Plymouth. It’s a new era for the city, a national endeavour which we are proud and excited to be at the heart of. Families of today and tomorrow will benefit from this announcement and the opportunities it will open up far into the future.

“This is why we are teaming up with the MOD, Babcock and wider partners such as Plymouth University and City College Plymouth to make sure city residents can access these opportunities – not just in defence but in wider supply chains including marine autonomy and construction. There is a lot to do, making sure the entire city and wider region benefits from the defence growth, but we are already on the case. The Defence Industrial Strategy is shining a bright light on Plymouth, and we are very proud to be part of it.”

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